BUSN1013 Economics for Business - Flinders University

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Overview

This topic is concerned with the study of markets and the behaviour of consumers and firms in both competitive and monopolistic markets. An understanding is developed of market demand and supply forces and the interaction of both in determining market outcomes. Insight is given into the behaviour of major decision-makers in the market place. These include: consumers (demand), producers or firms (supply) operating in competitive and monopolistic markets, and the role of government (e.g. taxes and subsidies) and the impact of government intervention on economic welfare.

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Tuition pattern

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Aims

This topic aims to understand the business applications of microeconomic concepts. The basics of consumer behaviour and the short-run and long-run output decisions of a business will be examined. Students will learn how to make comparisons between competitive and monopolistic market outcomes from both a business and societal perspective.

Assessments

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Requisites information

Anti-requisites:

Handbook

Economics for Business

BUSN1013